Bitcoin inventor wants to make Monero and ZCash traceable

Self-proclaimed Bitcoin inventor Craig Wright is currently working on a technology designed to track the transactions of so-called privacy coins such as Monero or ZCash. The endeavor should be reviewed by independent third parties by the end of this year and soon be ready for use.

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Craig Wright claims to be Satoshi Nakamoto and thus the inventor of Bitcoin. He is also the Chief Scientist at nChain and claims in an interview with CNBC, according to recent statements, that he and some researchers are researching a technology that makes transactions in cryptocurrencies like Monero or ZCash understandable. Protecting privacy and protecting privacy is a need for many digital asset users to meet increasing demand.

Cryptocurrencies that provide non-traceable transactions are a thorn in the side of governments worldwide, as they could be used for money laundering and terrorist financing. In France, the General Financial Assembly has already concluded that such digital assets should be banned, as this poses a great risk and potential for criminal activity. Nonetheless, the report also acknowledges that cash remains the most widely used fund for financing criminal activities.

Dr. Craig Steven Wright, along with Calvin Ayre of Coingeek, is one of the strongest advocates of Bitcoin SV, a hard fork of Bitcoin Cash. Wright is now against privacy coins, as he made clear in an interview with CNBC (freely translated):

ECash was anonymous, far more than Zcash or Monero. One of the things I've been working on I'll be releasing to people like law enforcement later this year, and then there'll be others killing Zcash, killing Monero, and so on.

If you have a private coin, I'll show you that it's basically as private as the square with the pants around your ankles.

He also announced immediately after Twitter, that the mentioned crypto currencies will make nachverfoglbar and the technology is currently being developed.

He does not mince words and criticized the Smart Contracts Plattforn Ethereum in a public letter to the CFTC, calling it a 'cheap copy' of Bitcoin (freely translated):

Ethereum is a poorly designed copy of Bitcoin designed to fulfill the promise of intelligent contracts and scripts delivered within Bitcoin but hampered by Bitcoin core developers who wanted to enable anonymous transactions within the system.

The next time will show how much truth and deeds will follow his statements.

Featured Image: Gorodenkoff | Shutterstock

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